I'm looking into buying a property for use as a short term rental in Florida and will be out there part of the year but other times I won't be there. My wife is good with online marketing so I'm not sure we need to pay a property management company to find renters for the property, however, we will need services like cleaning the place, fixing emergency issues, etc.
I'm not sure if property management companies would be open to just doing this part of the service without the finding renters part for a reduced fee? Or, alternatively I was thinking about forgoing using a property management company completely, I'm not sure if trying to find vendors myself like a cleaning service, handyman service, etc is asking for trouble without me being there year round? I figure it may go smoothly most of the time but if someone doesn't do their job as expected just one time when I'm in another state it could cause a lot of issues.
Would appreciate any insight from those more experienced, thanks.
Hey @James Elden , yes, just forgo the management. AirBNB and VRBO will bring you all the folks you need. You will find plenty of cleaners and handy people I am sure.
Make sure the area you are in allows STR's.
@Michael Baum ok thanks that gives me some confidence, I guess I should just have a few companies on hand and get confirmation from them everytime they finish work (cleaning, repair, etc) and call someone else immediately if they aren't being responsive.
You can put an ad up on the Craigs List for the part of Florida you intend to do this business venture and find your cleaner and handyman. You might even find some tenants if you put an ad in Vacation Housing. I've gotten a few renters from CL. A few thousand.
@James Elden Spend some time reading this forum. Most of us self-manage from afar and it's discussed extensively on this forum.
@James Elden there are several management companies that offer the option to help with just cleaning and maintenance, or guest communication and cleaning, or full house. Take time to check out options in your city, their services, and their fees. It can be helpful to consolidate and have boots in ground while you’re gone. Self-managing is also an option if you get a good team around you, good cleaners are essential.
Hey @James Elden look closely at the local ordinances regarding STRs in FL. If you find they are too restrictive, then consider midterm stays or stays of +30 days.
Mid term stays have less turnover associated with them yet still yield the same profit after expenses.
You'll know the area can support such a thing if there's an extended stay hotel there.
Best to you.